Japan: Manufacturing gauge jumps back to positive territory in June
June 23, 2014
The Markit/JMMA Flash Manufacturing Purchasing Managers Index (PMI) rose from 49.9 in May to 51.1 in June, which represented the highest level in three months. The PMI is now just above the 50-threshold that separates an expansion from a contraction in business conditions.
According to Markit/JMMA, the Japanese economy has recovered fairly quickly from April’s sales tax increase and economic dynamics are pointing upward. In this regard, new orders and output jumped back into positive territory. On a negative note, payrolls dipped into the red for the first time in 11 months in June.